A Microeconometric Investigation into Bank Interest Rate Rigidity pot

... we assume that if a bank adjusts the interest rate, it adjusts to the optimal rate. An alternative approach assumes that the bank has an implicit optimal mark-up or mark-down of the retail interest ... probability of a given interest rate changing at a certain point in time. The hazard rate can be used to assess whether rates that have changed more recently are more li...

Ngày tải lên: 15/03/2014, 14:20

... determinants of retail rate dynamics such as general market interest rate dynamics and bank and local market characteristics. Also, this framework enables the identification of the merger characteristics ... substantial. Table 7: Checking account rate duration: Cox proportional hazard estimates for subsamples of high and less concentrated local banking markets Hazard ratio sta...

Ngày tải lên: 15/03/2014, 14:20

... For any real R the central bank (agent 0) can behave as a price taker in such a way that a necessary condition for a CE is R = R . Now as Wallace acknowledges, Claim 4 produces a puzzle ... level or inflation, nominal interest rate rules or justifying a role for the central bank. Nominal magnitudes are nominal in name only and Wallace’s analysis is without theore...

Ngày tải lên: 22/03/2014, 17:20

... of the data Construction of bank interest rate series The data on bank interest rates used in this study are based partly on non-harmonised monthly national retail interest rate statistics ... a starting point. 18 That is, bank rates are assumed to be set according to their marginal costs, which are approximated by market rates comparable (in maturity) to the bank...

Ngày tải lên: 22/03/2014, 23:20

... central bank, to choose the nominal interest rate. One way to think of a cen tral bank as enforcing a particular magnitude for the nominalinterestrateistohaveitoffer to buy date-1 ecus for da te-2 ... can interpret e 0 t − x 0 t as the central bank s sale (purchase if negative) of date-t ecus. Then, (2) says only that the central bank trades a t a price. Because the central b...

Ngày tải lên: 29/03/2014, 01:20

... of ways of which is slogan. Although the aims as well as the formats of propaganda slogans in English and Vietnamese are partially similar, their grammatical, semantic, and pragmatic features ... grammar, semantics, and pragmatics. Although the researcher has strong ambition and passion for analyzing them, there are some other aspects with which have not been dealt in this paper because...

Ngày tải lên: 26/11/2013, 13:30

... official rates. Estimated Probabilities of Changes in Official Rates Estimation of the anticipated and unanticipated components of changes in official rates and their separate effects on market rates ... expectations are mostly fairly small. ANTICIPATION IN CENTRAL BANK INTEREST RATE POLICY 665 Table 4. Reaction of Euro–Deutsche Mark Rates to Anticipated and Unanticipated Changes in Off...

Ngày tải lên: 06/03/2014, 02:21

... k 3;ASS k 5;ASS k 7;ASS k 9;ASS k 11;ASS ATP(t) Asp(t) þ k 2;ASS k 5;ASS k 7;ASS k 10;ASS k 12;ASS Asp(t) AMP(t) (as(t) þ asR(t)) + k 1;ASS k 3;ASS k 5;ASS (k 7;ASS k 9;ASS þ k 7;ASS k 11;ASS + k 9;ASS k 11;ASS ) ... be useful, any simulation must approach as near as possible to available experimental data. The output from a model can take a number of forms and Fig. 2 shows some of the gr...

Ngày tải lên: 08/03/2014, 08:20

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Ngày tải lên: 15/03/2014, 01:20

... results as reported in Table 3 for lending rate and money market rate relation and in Table 4 for deposit rate and money market rate relation. The maximum eigenvalue and trace statistics show that ... there is greater rigidity in deposit and lending rate decreases than increases and retail interest rates does not adjust asymmetrically to an increase or a decrease in money m...

Ngày tải lên: 15/03/2014, 02:20